I agree that the OXX transaction is highly likely to go through barring some loophole somewhere (which i don't see). What I mean by not being firesale is that getting the money asap is paramount in firesale circumstances. This deal was never structured that way as ownership was always going to be a "journey" of some sort.
I may be reading too much into the tea leaves but I see a reasonable chance that OBL will be left holding 75% post SAT and post farm-out to OXX. This would allow OBL to farm a further 50% or perhaps even more depending on whether OXX is willing to reduce.
OBL Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
